After months or sometimes years of fighting for justice, receiving word that your case has settled feels like a long-awaited victory. But once the settlement agreement is signed, many clients wonder: How long until I actually get my check?
At The Perazzo Law Firm, our personal injury accident attorneys believe in transparency and prompt disbursement and are dedicated to helping clients understand every step of the settlement process by ensuring that their compensation is handled efficiently and lawfully.
Step-by-Step Breakdown of the Settlement Check Process
1. Settlement Agreement & Release Signing
Before any money changes hands, both sides must sign a settlement agreement and release form. This document finalizes the case, confirming that the injured party will not pursue further legal action once payment is received.
2. Issuance of the Check
Under Florida law, insurance companies must issue payment within 20 days of receiving the signed release. This timeline is designed to protect claimants from unnecessary delays and ensure that compensation is delivered promptly.
3. Depositing into Trust (IOTA) Account
Once received, your lawyer must deposit the settlement check into a client trust account known as an IOTA account. This ensures that funds are properly cleared and accounted for before distribution.
4. Lien Resolution & Expense Deductions
Your attorney then reviews and resolves any medical liens, insurance reimbursements, or outstanding bills related to your treatment. Attorney fees and case costs are also deducted at this stage.
5. Final Disbursement to Client
After all deductions, you’ll receive a final settlement statement detailing every expense. This transparency ensures you understand exactly where every dollar went.
How Long Can a Lawyer Hold a Settlement Check in Florida?
While there’s no fixed number of days set by law, the Florida Bar Rules require lawyers to handle client funds promptly and diligently.
In most cases, clients receive their funds within two to three weeks once the check clears unless there are outstanding issues. Delays can occur when medical or insurance liens need negotiation, the settlement check has not yet cleared, or a client disputes fees or deductions. The personal injury accident attorneys at The Perazzo Law Firm work quickly to minimize these delays and keep clients informed at every step.
Common Reasons for Delay in Disbursement
Some delays are beyond an attorney’s control such as outstanding liens from hospitals, doctors, or government insurance programs, bank clearance times which can take several business days, client disputes regarding legal fees or repayment terms, or structured settlements which pay out in scheduled installments.
What to Do If There’s a Delay
If you feel your settlement is taking too long, ask for a status update. You have the right to know the reason for any delay. Request an estimated timeline once the check clears or liens are resolved, your attorney should give you an updated payout schedule. If the delay is excessive or unexplained, you can contact the Florida Bar for guidance.
Tips to Help Clients Expedite the Process
Return your signed release forms quickly. Provide accurate details about medical providers and insurance. Stay in regular contact with your attorney’s office for updates.
Call The Perazzo Law Firm – We Don’t Delay Justice
At The Perazzo Law Firm, serving Florida, Georgia, and Texas, we pride ourselves on client-first service and timely settlement disbursement. The accident attorneys at The Perazzo Law Firm know that every day counts when you’re recovering from an injury and waiting for your compensation.
